Gentlemen’s Magazine

5 You have been approached by the editor program of Gentlemens Magazine to carry out a research study. The pickup has been unsuccessful in attracting shoe manufacturers as advertisers. When the sales force attempt to secure advertising from shoe manufacturers, they were told mens clothing stores atomic number 18 a small and dying segment of their business. Since Gentlemens Magazine goes chiefly to mens clothing stores, the manufacturers creatored that it was, therefore, not a unattackable vehicle for their advertising.The editor believes that a survey (via mail questionnaire) of mens clothing stores in the United States will probably show that these stores atomic number 18 important outlets for mens position and are not declining in importance as shoe outlets. He asks you to develop a plan for the study and submit it to him. Develop the management-research question hierarchy that will champion you to develop a specific proposal. The initial Research -First we need to come up to the managements concern. How to market Gentlemens Magazine to shoe manufactures. -How advantageous is shoe manufactures? -What faces of sales sources does shoe manufactures uses the most? -What percentage of clothing stores bid shoes sales? -What is the percentage of demand of men shoes? -How paid are sales of shoes? -How profitable are men shoes going to be to Gentlemens magazine? -To customers oHow umpteen times a year do they purchase mens shoes? oHow many pair of shows do they purchase when they do purchase their shoes? What type of men shoes are they more likely to purchase? oWhat are the preferred colors? 5. Compute the cogitate of the following sample set 16. 25, 12. 91, and 14. 58. 16. 25+12. 91+14. 58=43. 74 43. 74/314. 58 21. What is consume wrongful conduct? Sampling error is the estimated error caused by the observation of a sample instead of the entire population. Could the value of the sampling error be zero? Only when the sample is the entire populatio n the sampling error can be zero. If it were zero, what would this incriminate?If the sample error is zero that recollect the entire population was the sample. 22. List the reasons for sampling. Give an example of each reason for sampling. Answer The inability to sample the entire population. Ex Trying to withdraw the entire populations hair color. 34. Information from the American Institute of Insurance indicates the baseborn amount of lifeinsurance per household in the United States is $110,000. This distribution follows thenormal distribution with a standard deviation of $40,000. . If we select a random sample of 50 households, what is the standard error of the mean? Answer Standard error 40,000/sqrt 50 = 8000/sqrt2 or about 5656. 85 b. What is the expected fix of the distribution of the sample mean? Answer The data should to be a normal distribution, therefore the shape would be bell-shaped. c. What is the likelihood of selecting a sample with a mean of at least $112,000? A nswer P(X 112,000) = 1 P(X 100,000) = 1 P(X